Handling Mastermind Group Membership Registrations

Before offering your group to the public, you’ll need to come up with a strategy for how you accept registrations. There are two things to consider:

Design a Registration Process

Decide whether group members can register online, over the telephone, or via mail or email.

  • If group members are allowed to register online, you’ll need to have a system in place to accept these registrations on your website, such as an online shopping cart system or email system. Typically online registrations are completed with a credit card for mastermind groups that charge a fee to register.
  • If you allow group members to register via email, it is wise that they do not email you their credit card information, as it is not safe to do so. Instead, offer them a safer way to give you credit card information, such as phoning it in or faxing it to you.
  • If you accept registrations by regular ground mail, you need to create a registration form that people can fill out and send along with their check or credit card information.

Check out Authorize.net or PayPal. These services offer merchant accounts to allow you to accept credit cards.

Create a Registration Form

Determine what information you must collect on the registration form. Whether you accept registrations online, via mail, email, phone, or fax, tell group members what information they need to give you. When your group members register, make sure you capture the following information from them:

  • Name
  • Email Address and Postal/Street Address
  • Home, business or cell phone number (in case email is not working)
  • Location (so you know what time zone they are in)
  • How they heard about your mastermind group (to check the success of each of your marketing techniques)

Payments by Credit Card

If you are running a business, you may be already accepting credit cards. Credit cards are a great way for people to pay for their mastermind group membership, for several reasons:

  • Members can sign up for your mastermind group and pay for it in installments (called “recurring payments”). This reduces your monthly administrative tasks.
  • Members can sign up for a your group immediately, when they first hear about it. Strike while the iron is hot!
  • Members from all over the world can participate, because they will be charged in their local currency (it is deposited in your bank in US Dollars or whatever your local currency is).
  • Members can enter their credit card information via a secure web page, which limits the number of phone or paper registrations you have to manually process.
  • You know immediately if a credit card is rejected; with checks, there is a delay before you know if the check bounced, and you may pay the bounced check fee.

Check with your bank about being allowed to accept credit cards, called a “merchant account.”  Or check out the many online merchant account processors that allow you to accept credit cards, often with lower fees than your bank charges. These merchant accounts allow you to accept credit cards online, by phone, or in person. Make sure your merchant account processor allows you to accept credit cards in all three of these ways, for maximum flexibility. For example, Practice Pay Solutions often works with small businesses and offer both credit card merchant accounts and online shopping carts systems that you can connect to your website.

If you choose to accept credit cards for mail-in or phone-in registrations, it is always wise to ask group members to fill out a credit card approval form so that you have their signature on file. These forms can be mailed or faxed to you, so include both your address and your fax number on the form. You can also have members sign your credit card form, scan it (or take a photo of it), and email it to you.

Payments by Check

You can also accept checks, but the payment cycle is a little different.  People will have to mail checks to you, and allowing time to clear means you have to set a deadline for when membership registrations and payments are due.  Also, check with your bank about fees for checks from other people that bounce.  With business accounts, usually your business is charged a fee if the member bounces a check (go figure!).

People sending payment from another country will have to send you a traveler’s check or international money order in your local currency, or wire money from their bank account to your bank account.

If you work from a home office, you may want to consider opening a local post office box for business and mastermind group registration purposes, rather than divulging your home address to strangers.

 

By being prepared in advance, you can easily begin your new mastermind group and take membership registrations without any hassles.


Great Books for Mastermind Groups to Read Together

One of the most insightful and inspiring things I’ve done with mastermind groups is to choose a book that the group reads and discusses together.

It’s an amazing journey of discover when you read the same chapter together, yet each person finds different themes and elements, and ways to apply the chapter to their lives.

Consider reading these books with your mastermind group:


90 Day Challenges for Your Mastermind Group

Here’s a great way to put some pep into the step of your mastermind group members.

A 90 Day Challenge is perfect for getting people into action around a topic. Mastermind groups can get lost in thinking and planning stages of any endeavor. Let’s face it — it’s fun and exciting to brainstorm about new ideas! But new ideas aren’t enough.

One of the most important benefits of being in a mastermind group is that you create and implement an action plan, and the group holds you accountable to make progress.

8-Step Checklist for Creating Your 90 Day Challenge

  1. Pick the 90 Day time frame. Everyone in the group should be working on their challenge at the same time, so vote on the 90 day period that everyone will use. Don’t give people a lot of time to “think about it,” or it will never happen.
  2. Have each mastermind group member choose what goal they’ll accomplish in 90 days. Will you all work on the same challenge, like lose 12 pounds in 90 days, or write a book in 90 days, or implement a 90 day marketing campaign? Or will each person get to design their own unique 90 day challenge?
  3. Set the parameters for the definition of success. Ask each mastermind group member to write down specific tasks they will have accomplished at the end of the 90 day period. Make sure the tasks are specific, reasonable, do-able, and measurable.
  4. If it’s appropriate, have each member also list smaller milestones, the date when they’ll complete the milestone task, and how that milestone task will lead to the bigger goal. It’s so easy to get off-tangent in 90 days and breaking down the big goal into smaller chunks will ensure that people have created a 90 day plan that’s actually possible to do.
  5. Have mastermind group members list what resources they’ll need to accomplish the 90 day goal. Will they need to hire a specific sub-contractor? Find financing? Signup for a class? Read a book? Buy workout equipment? Talk with a partner?
  6. Each group member should also list what might get in their way of accomplishing their 90 day goal. Will their family and friends support them or sabotage them? What will they do if they self-sabotage this 90 day challenge through procrastination, distraction or rebellion? It pays to think ahead about what could detour you and make a plan to circumvent the problem before it crops up.
  7. Decide on how often you’ll check in with each other. This type of challenge takes a lot of support and encouragement. It’s easy to get off track, even for one or two days, and decide to dump the whole 90 day challenge project. Checking in often will ensure that small setbacks don’t become a threat to your overall success in the Challenge.
  8. Decide on how the check-ins will occur.  Will you check-in as a group, either in person or on a teleconference? Will you check-in via an online message forum or a private Facebook group? Ask the mastermind group to vote on the best, most convenient way to do check-ins. If it’s not convenient, people won’t use it.

You’ll love how 90 Day Challenges perk up your mastermind group members and get them to achieve something remarkable!

I’d love to hear your ideas. What type of 90 Day Challenge will you set for yourself to create success in your personal and professional life? Is your mastermind group doing a 90 Day Challenge?


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